Last updated : February 24, 2023 4:27 pm
According to a joint report by real estate consultants ANAROCK and Retailers Association of India (RAI), NCR & Hyderabad account for 46% of total new upcoming supply, closely followed by Bengaluru at 19%
Driven largely by rising consumption, the rebound in Indian retail market has been favourably impacting retail real estate across the country, finds a joint report by real estate consultants ANAROCK and Retailers Association of India (RAI).
NCR and Hyderabad account for nearly 46% of the total new upcoming supply, closely followed by Bengaluru at 19%. Back in 2022, the top 7 cities added over 2.6 Mn sq ft of mall space which was 27% more than the preceding year (2021).
Anuj Kejriwal, CEO & Managing Director - ANAROCK Retail, says, "Sales value estimated during the festive season in late 2022 was INR 2.5 lakh crore, nearly 2.5 times compared to the previous year.”
Kumar Rajagopalan, CEO, Retailers Association of India (RAI), says, "The report also highlights that the Indian retail sector attracted around USD 1,473 Mn between 2019 and 2022, of which 76% of total investments came in 2019 itself. Among the cities, Hyderabad and MMR accounted for nearly 40% of the total PE investments in the sector."
Major Highlights